Pay Cuts and Layoffs Announced at Pace

Does these cutbacks mean Pace won’t be redesigning their website any time soon? Because it could use it.

Sources report that Pace Wildenstein slashed employee wages 10-16% last week before announcing layoffs today; numbers are unconfirmed, though at least two lost their positions with the gallery. The decision adds to unease felt amongst many arts professionals working in increasingly difficult economic times, as many New York institutions have downsized their staffs and in some cases, closed.